CS Professional · Drafting, Pleadings and Appearances · Art of Advocacy and Appearances
Kaveri Industries Ltd is defending a proceeding in which the petitioner relies on the Board's report attached to its annual financial statement. Under section 134 of the Companies Act, 2013, which item must the Board's report include, as the advocate should verify when preparing the case?
The Board's report must include the Directors Responsibility Statement, as required by section 134(3)(c) of the Companies Act, 2013. Director tax returns, private meeting minutes and asset valuation reports are not prescribed contents of the Board's report.
- AA Directors Responsibility StatementCorrect
- BThe personal tax returns of each director
- CThe minutes of every shareholder's private meeting
- DA valuation report of every asset of the company
Explanation
Section 134(3)(c) requires the Board's report to include the Directors Responsibility Statement. The other items are not listed contents of the Board's report.
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